Crypto News
3 years ago

VanEck Europe Launches A Bitcoin-Backed ETN Listed On Deutsche Börse

Jordan Lyanchev Nov 25, 2020 12:48
VanEck Europe has launched an exchange-traded note (ETN) physically backed by Bitcoin. The ETN will be listed on the German trading venue Xetra.
  • Founded in 1955, VanEck is among the world’s largest investment management firms. Its European branch, VanEck Europe, announced today the official release of an ETN, physically-backed by Bitcoin.
  • The statement came from the company’s digital asset director – Gabor Gurbacs. He noted that releasing such a service has been a “top priority for VanEck.”
  • The ETN will be listed on the Frankfurt-based exchange Xetra. Its price performance will reflect the MVIS CryptoCompare Bitcoin VWAP Close index, directly linked to Bitcoin’s movements.
  • This became possible after MV Index Solutions officially granted access to VanEck Europe to use MVBTCV as an underlying index for the Bitcoin ETN.
  • Apart from being fully collateralized, Gurbacs revealed several other features that will attract investors. Those include “negligible premium/discount to NAV, transparent holdings and prices, investor protections, and professional management by VanEch Europe.”
  • Gurbacs also asserted that VanEck is “committed to support Bitcoin and financial innovation.”

  • Martijn Rozenmuller, Head of Europe at VanEck, outlined that Bitcoin is an “excellent way to contribute to the diversification of a portfolio” because of its low correlation to other asset classes. He added that with the release of the Bitcoin ETN, VanEck will enable its clients to “benefit from the performance of bitcoin.”
Share This Article
Jordan Lyanchev

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Tags: BitcoinVanEck

You Might Also Like

‘Buy Bitcoin’ Sign Held at Janet Yellen’s 2017 Speech Sells for $1M

Ethereum (ETH) Soars Above $3.3K, Bitcoin (BTC) Aims for $64K (Weekend Watch)

Upbit Dominates South Korea’s Crypto Market, Ranking Top 5 Globally: Report

Institutional Interest in Crypto Assets Surges in Canada: KPMG Report

SlowMist Exposes Scam Using Malicious RPC Node Modifications

XRP Bull Run Nowhere to Be Seen as Bears Eye $0.5 Next: Ripple Price Analysis

We Asked ChatGPT Which Will be the Next Meme Coin to Hit $10B Market Cap

NFT Lending Hits Quarterly High, Surpassing $2.1 Billion in Q1: CoinGecko

Bitcoin Breaks Daily Transaction Record Days After Halving

Bitcoin Cannot Grow Without the Spot Bitcoin ETFs: Report